While the Bitcoin and cryptocurrency market is focused on the spot Bitcoin ETF decision from the SEC, Nansen data revealed that investors and smart money are turning to four Ethereum (ETH)-based altcoins.
Accordingly, there has been significant inflow of funds into Ethereum-based altcoins Ethereum Name Service (ENS), Aave (AAVE), Maker Dao (MKR) and Polygon (MATIC) in the last 24 hours.
Looking in detail, Ethereum Name Service ranks first with a significant fund inflow of approximately $3.9 million. ENS, which recorded a significant rise after the statements of Ethereum founder Vitalik Buterin, continues to be traded at $14.62.
In second place was AAVE, the token of Aave, an ETH-based DeFi protocol, with a fund inflow of $1.7 million. AAVE continues to trade at $103 at the time of writing.
In third place was MATIC, which was in the focus of the whales.
MATIC, which experienced a fund inflow of $1.66 million, continues to be traded at $0.8473 at the time of writing.
It seems that MKR is in last place. At this point, MKR, which has experienced a money inflow of 1.3 million dollars, is at the level of 1,760 dollars at the time of writing.
Evaluating the significant fund inflows in these four altcoins, analysts stated that these fund inflows can be interpreted as a sign that investors are turning to the Ethereum ecosystem.
*This is not investment advice.